Canada's economy unexpectedly shed 9,300 jobs in July, the
first month this year it has failed to create employment,
suggesting the country's recovery from recession is starting to
slow. Analysts had expected a rise of 15,000 jobs.
[ID:nN06197942]

"It's not the end of the world because we've had a real
streak of employment gains, particularly last month. Not
totally unexpected, but I think the market had expected a
little more," said Irwin Michael, portfolio manager at ABC
Funds. The July report follows a strong gain of 93,200 jobs in
June.

In the United States stocks fell sharply on Friday after
data showed a steeper-than-expected drop of 131,000 in July
nonfarm payrolls. Analysts polled by Reuters had forecast a
65,000 drop. [.N] [ID:nN05598486]

"The market is very thin and the market is merciless when
it comes to not beating the expectations," Michael said.
Continued...